News And Announcements
UK banks should use divi cash to write off customer debt - AJ Bell
British banks should use the £7. 5bn saved in scrapped dividends and bonuses to write off debt repayments for customers affected by the coronavirus, investment platform AJ Bell said on Wednesday.
O2 cuts ties with Carphone Warehouse
UK mobile network O2 said it had ended its partnership with Carphone Warehouse after it failed to agree to a new deal with the retailer.
Aerospace firms lobby govt for Virgin Atlantic bailout
Aerospace companies and the UK's biggest airport are reportedly lobbying the government to bail out struggling airline Virgin Atlantic.
US manufacturing slumps as Covid-19 shuts factories
US output slumped at its fastest pace since the height of the financial crisis in March, data published on Wednesday showed.
Private sector employment eases in the US, sharper falls predicted
Private sector employment eased in the US last month, figures released by consultancy ADP on Wednesday showed, but is expected to fall even further in the coming weeks because of the coronavirus outbreak.
Market recovery will unravel, investor Howard Marks warns
The recent global market recovery will unwind as the impact of Covid-19 increases, the economy slumps into recession and corporate defaults rise, a prominent distressed debt investor has warned.
UK manufacturing output falls at fastest rate in 8 years
UK manufacturing output fell in March at its fastest rate in eight years, while employment declined at the fastest rate in more than a decade as the coronavirus outbreak and efforts to slow its spread took their toll, according to data released on Wednesday.
China manufacturing stabilises in March
Chinese manufacturing stabilised in March after a record plunge caused by the coronavirus crisis, a survey showed.
Eurozone manufacturing plunges as Covid-19 takes toll
Manufacturing output in the eurozone shrank at the fastest pace since the 2009 global recession as the coronavirus crisis forced factories to close.
SMEs face collapse as they struggle to access govt loan scheme - report
Up to 1m small businesses could be forced to close as they struggle to obtain the cash to survive lockdown, despite the package of measures announced by government, according to research released on Wednesday.